enGene (NASDAQ:ENGN) Trading Down 5.7%

Shares of enGene Holdings Inc. (NASDAQ:ENGN) dropped 5.7% during trading on Wednesday . The stock traded as low as $12.52 and last traded at $12.52. Approximately 821 shares were traded during trading, a decline of 98% from the average daily volume of 53,480 shares. The stock had previously closed at $13.27.

Analysts Set New Price Targets

ENGN has been the topic of several research analyst reports. Guggenheim initiated coverage on enGene in a report on Monday, April 15th. They set a “buy” rating and a $34.00 target price on the stock. Leerink Partnrs restated an “outperform” rating on shares of enGene in a report on Tuesday, February 20th. Morgan Stanley initiated coverage on enGene in a report on Friday, March 8th. They set an “overweight” rating and a $40.00 target price on the stock. Wells Fargo & Company initiated coverage on enGene in a report on Monday, April 22nd. They set an “overweight” rating and a $30.00 target price on the stock. Finally, SVB Leerink initiated coverage on enGene in a report on Tuesday, February 20th. They set an “outperform” rating and a $31.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $34.40.

enGene Price Performance

The business’s fifty day moving average price is $15.76.

Insider Activity at enGene

In other enGene news, major shareholder De Solidarite Des Travai Fonds sold 47,854 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $15.00, for a total transaction of $717,810.00. Following the transaction, the insider now owns 3,036,153 shares in the company, valued at $45,542,295. The sale was disclosed in a document filed with the SEC, which is available through this link. 13.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On enGene

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC bought a new position in enGene during the first quarter worth about $17,095,000. Altitude Crest Partners Inc. acquired a new stake in shares of enGene during the first quarter worth about $2,039,000. Fcpm Iii Services B.V. acquired a new stake in shares of enGene during the fourth quarter worth about $80,097,000. Omega Fund Management LLC acquired a new stake in shares of enGene during the fourth quarter worth about $10,441,000. Finally, BVF Inc. IL acquired a new stake in shares of enGene during the fourth quarter worth about $20,777,000. Institutional investors own 64.16% of the company’s stock.

enGene Company Profile

enGene Holdings Inc, through its subsidiary enGene, Inc, operates as a clinical-stage biotechnology company that develops genetic medicines through the delivery of therapeutics to mucosal tissues and other organs. Its lead product candidate is EG-70 (detalimogene voraplasmid), which is a non-viral immunotherapy to treat non-muscle invasive bladder cancer patients with carcinoma-in-situ (Cis), who are unresponsive to treatment with Bacillus Calmette-Guérin.